Industry specific Contract structure set-up
Contracts such as Unit rate, Milestone, T&M types, holdback terms, Documents for submission, approvers and reviewers for approval cycles
Sales Order - Purchase/Service Order Linkage
Helps in addressing peculiar scenarios such as ‘Pay when get paid’, ‘Implementing Back-to-Back clauses’
Create and manage payment applications from start-to-finish, based on project WBS progress, workflows, holdbacks, etc.
Change Order Execution
Increases/decreases to prime contract, change estimation, documentation, approval workflow.
Compliance Document Management
Generation and storage of lien wavers, insurance certificates, payment application templates
Subcontractor Change management
Increases/decreases to subcontracts, quote collection, templates, workflow, etc.
Billing back-up Document Management
Amalgamation of all back-up documents required for any given billing cycle
- Enhanced cashflow management due to better payment visibility w.r.t actual progress, leading to better profitability
- Effective management of payment application process with reduction of manual reconciliation & iterations leading to improved productivity
- Enhanced collaboration across value chain reduces data errors, improves response speeds, thus shortening payment processing cycle times
- Detailed Profitability Analysis by comparing contract item wise incoming and outgoing payment